YANGON, Myanmar (AP) – Myanmar inaugurated a new stock exchange on Wednesday with plans for six companies to start trading in March next year.
Minister of Finance Win Shein said that the Yangon Stock Exchange will initially be open only to Myanmar companies and investors.
Officials hope a stock exchange will help companies raise capital and fuel economic development in one of Asia’s poorest countries.
Its economy was stunted by decades of international sanctions until military rulers yielded to a civilian government in 2010.
Myanmar had a stock exchange during military rule but it attracted few companies and trading was almost nonexistent.
The Yangon Stock Exchange is being set up with Japanese assistance.
Win Shein said planned law changes will allow foreigners to invest in Myanmar shares.
The companies slated to list in March are: FMI Co., First Private Bank Ltd., Myanmar Citizen Bank, Thilawa Special Economic Zone Public Co., Myanmar Agricultural Business Public Co. and Great Horkham Public Co.